Create Custom Nft

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Cryptocurrency is booming right now and you’re probably thinking where to invest your crypto-coins. Marketplaces are popping up across the web that allow users to buy and sell NFTs using cryptocurrency! OpenSea can be one, and it’s worth a look.

If you’re interested in crypto you’ve likely heard of OpenSea prior to this for a valid reason. It’s now one of the largest and most popular marketplaces for cryptocurrency users because of its security and rapid transactions.

So, hop on board and discover what you can do with OpenSea and also see the NFTs that you can see!

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Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick review. After, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.

OpenSea as an NFT Marketplace Create Custom Nft

The aim of OpenSea was to simply provide a platform/marketplace for artists to easily upload their commissions, without having to pay any additional charges. There are additional features that let you sell your artwork without any issues.

For the registration process, you don’t have to give all of your personal details. All you have to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as easy as that without going through many hassles when you enter into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency used on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it which is utilized to carry out the majority of processes. It also operates with the Polygon blockchain, which ensures the lowest cost and speediest trading.

With these two types of blockchains it is possible to choose which one you’d like to upload your NFT on as a seller. This is to ensure the security of your NFT as well as those who wish to buy it. Every transaction will be conducted by using the blockchain, and you must think about where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online mall where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything the simplest domain name, to a piece of art from an artist you admire. Anyone can sell, but it takes a while before anyone can become a reputable one.

There’s a huge selection of NFTs available on OpenSea, and you can also be a part of that! You can create your own personal market here, along with finding NFTs that you would like to purchase yourself.

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What is an NFT?

A recent change in the crypto market”NFT” is a term that has been used in recent times “NFT” has been going around for so long on the internet that the majority of young people are familiar with it , but aren’t sure exactly what it actually means. Let’s look at what an NFT is for any beginners in cryptocurrency.

One of the new things you can purchase your cryptocurrency includes an NFT. An NFT is a non-fungible currency that is unique and can’t be substituted. This can be an item of rareness, such as authentic baseball cards, or a unique vinyl album.

There’s no limit on what an NFT can be since it’s a non-fungible object that you sell online. In simpler terms, you could just imagine the NFT being a virtual item which is only paid in cryptocurrency.

Minting NFTs

Minting is like calling dibs on your own NFTs. You are calling the owner of the item or token you uploaded on market, as offering it for sale. Usually, this is recognized when you have filled in the correct information about the NFT and add it on the market.

On OpenSea It’s a very simple process to mint your NFTs. All you have to do is visit the store and then create a collection! Fill out the proper and correct information regarding your NFT and choose what kind of settings you’d like to use for it (e.g., blockchain and money transfer tokens). After that you are able to upload it if it fits the 100 MB limit.

You can wait and observe how the transactions go from here on out to see whether OpenSea is the right marketplace for you.

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What NFTs are available here?

At this point you’re probably thinking about what kind of NFTs can be found here and what kind of NFTs you can also sell if you decide to pursue that route. The kind of NFT it isn’t limited because there’s a wide range of ways to do it.

You can be selling trade cards, digital goods, game assets, domain names, and some physical items! Explore what you believe can bring the greatest rewards when you try out OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager function is the one that separates OpenSea from other companies. There are no gas costs when you utilize this feature when you make and then sell the NFTs. This is essentially a way to ensure that you get the most profit when you start selling because you won’t have to spend on additional fees.

There aren’t many NFT marketplaces provide this feature, and it can be a fantastic way to receive high profit from your portfolio.

Referral Program

This Referral Program is another distinctive feature of OpenSea to take note of. Like traditional online marketplaces that offer benefits by referring your friend to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from there, you’ll receive 2.50 percent of the purchase amount, which allows you to earn more cash from this act.

Other NFT marketplaces don’t offer this feature, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There is an OpenSea mobile application, however it’s mostly to browse through the marketplace. You can’t buy or sell items as you browse through the listings.

The mobile apps of OpenSea are available on both iOS in addition to Android. Even though you can’t buy or sell anything, you can still browse through the selections you’re interested in while on the go.

Crypto Exchange Platforms

Various crypto exchange platforms are to you You can also convert your fiat money into cryptocurrency using these platforms. Create Custom Nft

You can exchange your fiat money via credit card or Paypal via these reputable websites to exchange it for crypto:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex, and many more!

Each of them has the option of exchange for ETH, which is the most common crypto payment in OpenSea.

Crypto Wallets

While OpenSea has been described as being an NFT marketplace open to all types of cryptocurrency, wallets are nonetheless more compatible than others. Since it is built using an ETH blockchain, any wallets with a connection to this network are appropriate for this website.

Here is a list of several crypto wallets you can use in OpenSea:

  • WalletConnect
  • Coinbase
  • TrustWallet
  • OperaTouch
  • Bitski
  • Authereum and many more!

*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each has its own limitations like easy registration, only mobile usage, and the function to purchase cryptocurrency with the credit card. Create Custom Nft

For more information about the service You can go through their FAQs for an overview of how you can get started and what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

Like all crypto markets every one of them has advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and cons here:

Pros

  • Available as mobile apps that are compatible with iOS and Android.
  • Smart contracts are utilized for transactions.
  • High-level security with the support of blockchain.
  • Ideal for those who are new to the crypto world and NFTs.

Cons

  • Allows royalty rates of 10% to artists (low royalty rates).
  • Cannot buy or sell via this mobile application.
  • Only accepts cryptocurrency as a method of payment.
  • A Crypto digital wallet must be used to use this marketplace.

Pricing

OpenSea is available to anyone who owns any crypto coins in their crypto wallets. When you are selling, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. However, overall, you will quickly recover this amount if you are actively selling since there’s no extra charge for it.

Frequently Asked Questions Create Custom Nft

What is OpenSea?

OpenSea can be described as an NFT marketplace that seeks to provide artists a platform to sell their works online and receive cryptocurrency as their form of payment. It’s an ideal platform for artists using it to sell NFTs due to its no gas fees and low commission fees which you are required to pay.

You can shop and browse a vast collection of digital goods in this NFT marketplace and you must take a look!

Is OpenSea legit & safe?

The short answer is yes! OpenSea is a reputable marketplace since its inception on the 1st of December in 2018. Since the system it operates on is built on a blockchain that is secure, you can say that your transactions are secure and safe.

Additionally as a seller you’ll be verified when you build up your reputation. A blue checkmark will appear next to your account or any collection that you have uploaded to assure every customer. OpenSea’s team regularly reviews the content to ensure that users are protected.

How can I earn royalties from OpenSea?

However, as an artist, you’ll be paid only 10 percent of the royalties after you upload the NFT. This is considered to be quite low in comparison with the other NFT marketplaces.

What cryptocurrency is available in OpenSea?

Ethereum (ETH) has been widely used on this site and many others to accommodate many more cryptocurrency users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the cryptocurrencies that you can use to access OpenSea.

Which are the accepted payment methods for OpenSea?

OpenSea only allows cryptocurrency exchanges on its website. You can easily purchase or trade cryptocurrency using trusted platforms with fiat money. All you need to do is connect your credit card or Paypal for the transaction.

Does OpenSea have a desktop/mobile app?

As previously mentioned There is an official mobile app by OpenSea for both iOS or Android. Download it at their respective app store, and begin exploring the collection right now!

There is also a Desktop application that OpenSea which can be downloaded from WebCatalog. In the desktop application you are able to manage multiple accounts as well as receive notifications on updates regarding your account when you’re on the desktop.

You can also easily access the website from the browser by going to their official website (https://opensea.io/).

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